In the next 24-48h TNX may dump. That's bullish for other markets crypto, stocks...
Here we can notice similarities in the current market structure with the one above 40k. Possible drop from ~24300
multi week correction for DXY INCOMING which can result to multi week rally for BTC and SPY
NDQ/BTC weekly RSI is overbought Last two times this happened in the following 1-3 years btc and NDQ go up and BTC outperforms by a lot
Based on the patterns BTC created in the past 1 month I expect something similar to this PA
An interesting pattern has developed and 15 min and 1-4h charts and is still working for now
After giving it some more thought I ended up with this projection. The current rally follows the Wall Street Psychology chart very well. We are at the Disbelief stage which will spark the new Bull run after the following 30-40% correction.
Looking at the chart we can see a confluence point of this of the medians of two pitchforks for this uptrend around mid-late july. If the current downtrend continues we should bounce from there at 6200-6300.